Medical Billing Services for Small Practices
For medical businesses, financial management is the key.
We at Bikham feel the efficiency of a practice is only as good as its revenue management system.
Many physicians all across the United States still manage their billing with the help of an in-house team, worse yet, they do it themselves. While in-house billing is simply not feasible for big practices, small practices have been able to get away with it.
The recent years however, has seen a rise in outsourcing Medical billing for small practices as well.
Physicians are experts at delivering clinical services, not bookkeeping.
A Physician on average spends 2 hours a day on administrative tasks, this includes time spent on medical billing and for small practices or a Physician who just started a practice, this can mean all the difference between being successful or being financially burdened.
A recent survey puts the number of active physicians in the United States at just under a million. Only 21% of which are employed by hospitals.
With the rest in contention, physicians are trying hard to squeeze the last bit of revenue that can come their way. Pending reimbursements, frequent denials, all add up over time and break the progress of any thriving business.
Small leaks can sink big ships, physicians understand that now.
As such, more and more are looking for good billing partners.
Medical Billing Outsourcing, we have to agree, not an entirely new concept, however, highly effective.
Outsourcing has been a proven way to increase the bottom line for years, a recent trend being the rise of Medical billing for small practices.
Medical billing outsourcing isn’t just for big practices anymore, it does not matter if you serve a 100 patients or 1000, every patient counts and every claim adds to the growth of your practice.
Small medical businesses understand this, more so than ever.
What was once an option has become an absolute necessity.
What’s to know?
Most Medical billing companies can be a stone throw away, yet they can be so far away from your business goals.
When it comes to medical billing for small practices, personalized approach is the way to go.
Our pick of the services have always been specialty billing, the services may feel privileged but offer the best value for money.
Small Businesses often work with capped budgets, delegation of which has to be managed as precisely as possible.
As is the case with most, small business owners can either spend part of their allocated expenses on an in-house setup, collaborating with a third party biller or they can outsource the entire revenue cycle to organizations having experience in different specialties and in many cases specializing in medical billing for small practices.
While most billing partners will do the job, a specialty billing company can help you achieve that valuable “little bit extra” which will make a lot of difference to your bottom line.
Not all billing companies are equal, a subtle difference in services and the value offered can give your growing business a little extra push. Choose Wisely!
Bikham Healthcare has been the preferred billing partner for small and large medical practices alike.
Our specialty billing services and personalized medical billing for small practices ensures a wide client base of growing practices, more of which are added every day.
Looking to start a practice or having troubles with an existing one. Get in touch for a free billing analysis to see how we can help.